Collins, Turner Buy Office Buildings
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Collins Commercial Corp. and Turner Development Corp. of Newport Beach have purchased two low-rise office buildings from Cox Communications in Irvine for $4.8 million.
Cox now occupies the buildings, a two-story structure with 17,000 square feet and a one-story structure with 11,000 square feet, in the 2300 block of Morse Avenue.
Collins, a real estate brokerage, in June will be moving its 25-employee corporate office to the smaller building. No tenant has been found for the two-story structure, although the firm is negotiating with a possible occupant, said Michael Collins, president of Collins Commercial.
Collins and Turner have formed a partnership, Irvine Office Venture LLC, and plan to acquire additional office and industrial properties in Southern California.
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